Albany International (NYSE:AIN) Cut to Hold at StockNews.com

StockNews.com lowered shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a research report released on Wednesday morning.

AIN has been the subject of a number of other research reports. TD Cowen dropped their price objective on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Truist Financial cut their target price on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Albany International presently has a consensus rating of “Hold” and an average target price of $85.50.

Albany International Trading Down 0.5 %

NYSE AIN opened at $80.09 on Wednesday. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 2.66 and a beta of 1.29. Albany International has a one year low of $67.39 and a one year high of $99.41. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The business’s fifty day moving average is $79.06 and its 200-day moving average is $84.63.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. During the same period in the prior year, the business posted $1.02 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Equities research analysts predict that Albany International will post 3.2 EPS for the current year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is 32.50%.

Insider Transactions at Albany International

In other Albany International news, CEO Gunnar Kleveland bought 1,400 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average cost of $71.25 per share, with a total value of $99,750.00. Following the transaction, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at approximately $590,235. This represents a 20.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph M. Gaug bought 1,000 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $71.24 per share, for a total transaction of $71,240.00. Following the completion of the transaction, the vice president now directly owns 6,811 shares in the company, valued at $485,215.64. This represents a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 3,450 shares of company stock worth $245,813. 0.76% of the stock is currently owned by company insiders.

Institutional Trading of Albany International

Several large investors have recently added to or reduced their stakes in the company. Quarry LP boosted its position in Albany International by 515.4% during the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after purchasing an additional 402 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Albany International by 27.4% in the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after purchasing an additional 145 shares during the last quarter. Hilltop National Bank grew its position in Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after acquiring an additional 134 shares during the period. KBC Group NV grew its position in Albany International by 28.9% in the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after acquiring an additional 237 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Albany International in the first quarter worth approximately $102,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

About Albany International

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.